A Publication of RMLS, The Source for Real Estate Statistics in Your Community

Copyright RMLS 2014. All Rights Reserved.

Residential Review: Metro Portland, Oregon March 2014 Reporting Period

March HighlightsReal estate activity continued to

see upward momentum this March in the Portland metro area! There were 3,090 new listings, a 31.3% increase over the 2,354 new listings posted in February. This was also a 2.9% increase from the 3,002 new listings posted last March. Pending sales, at 2,534, bested Februarys 1,848 by 37.1% but were a 3.6% decrease from last Marchs 2,628 pendings. Similarly, the 1,857 closings were a 26.6% increase from Februarys 1,467 but fell 4.0% compared to the 1,935 closings recorded in March 2013.

There are currently 5,811 active residential listings in the Portland metro area. Total market time in the region fell to 85 days in March, and inventory decreased to 3.1 months.

First Quarter 2014Real estate activity had a fine start

the first quarter of 2014, although perhaps not as robust as 2013. The 8,113 new listings represent a 1.9% increase over the 7,963 new listings posted in the first quarter of 2013. There were 6,258 pending sales and 4,892 closings, down 3.2% and up 2.2%, respectively, from the 6,466 pendings and 4,789 closings posted in the first quarter of 2013.

Average and Median Sale PricesThe average price in the first

quarter this year was $322,700, up 11.2% from the first quarter of 2013 when the average was $290,300. In the same comparison, the median rose 9.9% from $247,100 in the first quarter of 2013 to $271,600 in the same period of 2014.

New Listings

Pending Sales

ClosedSales

AverageSale Price

MedianSale Price

Total Market

Time

March 3,090 2,534 1,857 328,100 277,500 85

February 2,354 1,848 1,467 325,500 279,000 100

Year-to-date 8,113 6,258 4,892 322,700 271,600 92

March 3,002 2,628 1,935 299,000 250,000 112

Year-to-date 7,963 6,466 4,789 290,300 247,100 113

March 2.9% -3.6% -4.0% 9.7% 11.0% -24.3%

Prev Mo 2014 31.3% 37.1% 26.6% 0.8% -0.5% -15.0%

Year-to-date 1.9% -3.2% 2.2% 11.2% 9.9% -18.6%

2014

2013

Chan

ge

Portland Metro Residential highlights

*Inventory in Months is calculated by dividing the Active Residential Listings at the end of the month in question by the number of closed sales for that month. This includes proposed and under construction homes.

Inventory in Months*2012 2013 2014

January 7.0 4.7 4.1February 6.5 4.5 3.9March 5.0 3.2 3.1April 4.7 3.1May 4.2 2.5June 3.9 2.9July 4.6 2.8August 3.9 3.1September 4.6 3.7October 3.8 3.4November 4.2 3.7December 3.6 3.2

Percent Change of 12-Month Sale Price Compared With The Previous 12 Months

Average Sale Price % Change: +12.1% ($316,400 v. $282,300)Median Sale Price % Change: +13.2% ($270,000 v. $238,600)

For further explanation of this measure, see the second footnote on page 2.

2 Copyright RMLS 2014. All Rights Reserved.

AREA REPORT 3/2014 Portland Metropolitan Area, Oregon

1 Percent change in number of pending sales this year compared to last year. The Current Month section compares March 2014 with March 2013. The Year-To-Date section compares 2014 year-to-date statistics through March with 2013 year-to-date statistics through March.

2 % Change is based on a comparison of the rolling average sale price for the last 12 months (4/1/13-3/31/14) with 12 months before (4/1/12-3/31/13).3 Total Market Time is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31

days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.

Act

ive

List

ings

New

Lis

tings

Exp

ired

/Can

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stin

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Pend

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Sale

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Pend

ing

Sale

s 20

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. 201

31

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l Mar

ket T

ime

3

New

Lis

tings

Pend

ing

Sale

s

Pend

ing

Sale

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14 v

. 201

31

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sed

Sale

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ice

Med

ian

Sale

Pric

e

Avg

. Sal

e Pr

ice

% C

hang

e2

Clo

sed

Sale

s

Ave

rage

Sal

e Pr

ice

Clo

sed

Sale

s

Ave

rage

Sal

e Pr

ice

Clo

sed

Sale

s

Ave

rage

Sal

e Pr

ice

141

N Portland 183 120 21 120 8.1% 98 271,200 74 340 303 6.3% 261 269,400 252,000 15.2% 4 220,300 2 209,300 7 399,800

142

NE Portland 330 274 56 206 -17.3% 165 348,300 60 653 561 -11.0% 468 333,000 275,000 11.7% 9 323,900 6 104,800 15 363,600

143

SE Portland 519 376 71 325 13.2% 219 285,300 55 955 786 6.4% 600 288,300 238,900 17.7% 4 384,500 12 166,400 27 465,700

144 Gresham/

Troutdale 481 198 52 156 2.0% 115 223,700 91 569 385 7.5% 295 229,000 217,500 13.0% 4 206,800 13 148,600 8 355,400

145 Milwaukie/

Clackamas 526 260 57 208 -4.6% 133 300,200 85 655 486 -9.0% 351 294,600 275,000 13.6% 1 171,000 28 174,400 3 443,700

146 Oregon City/

Canby 385 142 38 135 -2.2% 111 309,300 84 446 343 1.5% 275 299,300 283,400 15.8% 1 405,000 18 237,000 3 258,300

147 Lake Oswego/

West Linn 430 201 53 146 -5.2% 109 519,900 110 560 342 -11.4% 262 515,800 435,000 8.1% 1 712,500 9 398,000 - -

148

W Portland 591 342 83 280 -3.8% 222 474,200 97 921 691 0.4% 558 466,500 374,900 8.2% 2 45,000 20 183,900 10 700,100

149

NW Wash Co. 235 163 25 129 -5.1% 90 413,700 59 395 321 -3.3% 261 400,000 355,000 10.8% - - 7 217,000 2 324,300

150 Beaverton/

Aloha 381 256 52 227 -8.1% 155 273,900 85 695 544 -6.0% 415 268,300 240,500 15.7% - - 4 115,200 10 411,500

151 Tigard/

Wilsonville 498 276 52 218 -8.8% 150 328,400 72 696 512 -17.9% 394 328,100 306,200 9.0% 3 899,300 10 306,800 2 251,000

152 Hillsboro/

Forest Grove 356 182 47 192 -3.0% 147 260,600 96 524 494 5.3% 367 253,900 234,900 12.6% 3 231,600 17 196,300 5 247,500

153

Mt. hood 89 25 5 18 0.0% 15 273,400 174 57 48 33.3% 42 245,400 237,800 14.7% - - 2 22,800 - -

155

Columbia Co. 272 66 27 53 -7.0% 51 190,500 104 205 151 1.3% 124 198,500 185,000 22.6% 3 266,700 9 92,300 1 150,000

156

Yamhill Co. 535 209 49 121 -8.3% 77 256,700 166 442 291 -8.8% 219 262,900 219,900 10.3% 4 242,100 19 157,600 4 332,200

Year-To-Date

COMMERCIAL LAND MULTIFAMILYRESIDENTIAL

Year-To-Date Year-To-DateCurrent Month Year-To-Date

3 Copyright RMLS 2014. All Rights Reserved.

NEW LISTINGS PORTLAND, OR

This graph shows the

new residential listings

over the past three

calendar years in the

greater Portland, Oregon

metropolitan area.

TOTAL ACTIVE LISTINGS

PORTLAND, OR

This graph shows the

total active listings over

the past three calendar

years in the greater

Portland, Oregon

metropolitan area.

ACTIVE RESIDENTIAL

LISTINGSPORTLAND, OR

This graph shows the active

residential listings over the

past three calendar years in

the greater Portland,

Oregon metropolitan area.JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

2012 8,514 8,256 8,391 8,523 8,742 8,799 9,041 9,014 8,689 7,981 7,216 6,3522013 6,366 6,256 6,207 6,498 6,818 7,348 7,849 8,003 7,903 7,355 6,751 5,7072014 5,671 5,752 5,811

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Active Residential Listings

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC2012 11,175 10,939 10,957 11,146 11,465 11,448 11,709 11,629 11,263 10,542 9,659 8,3742013 8,519 8,435 8,385 8,673 9,002 9,564 10,138 10,293 10,223 9,573 8,884 7,5112014 7,606 7,731 7,702

5,000

7,500

10,000

12,500

Total Active Listings

0500

1,0001,5002,0002,5003,0003,5004,0004,500

New Listings

2012 2013 2014

Copyright RMLS 2014. All Rights Reserved.4

This graph represents

monthly accepted offers

in the Portland, Oregon

metropolitan area over

the past three calendar

years.

PENDING LISTINGS PORTLAND, OR

This graph shows the

closed sales over the past

five calendar years in the

greater Portland, Oregon

metropolitan area.

CLOSED SALES PORTLAND, OR

This graph shows the

average market time for

sales in the Portland,

Oregon metropolitan area

over the past three calendar

years.

DAYS ON MARKETPORTLAND, OR

0

500

1,000

1,500

2,000

2,500

3,000

3,500

Pending Sales

2012 2013 2014

0

500

1,000

1,500

2,000

2,500

3,000

Closed Sales

2010

2011

2012

2013

2014

020406080

100120140160

Average Total Market Time

2012 TMT 2013 TMT 2014 TMT

Copyright RMLS 2014. All Rights Reserved.5

This graph represents the average and median sale price for all homes sold in

the Portland, Oregon metropolitan area.SALE PRICE PORTLAND, OR

$175,000

$195,000

$215,000

$235,000

$255,000

$275,000

$295,000

$315,000

$335,000

$355,000

$375,000

Mar

-05

Jun-

05Se

p-05

Dec

-05

Mar

-06

Jun-

06Se

p-06

Dec

-06

Mar

-07

Jun-

07Se

p-07

Dec

-07

Mar

-08

Jun-

08Se

p-08

Dec

-08

Mar

-09

Jun-

09Se

p-09

Dec

-09

Mar

-10

Jun-

10Se

p-10

Dec

-10

Mar

-11

Jun-

11Se

p-11

Dec

-11

Mar

-12

Jun-

12Se

p-12

Dec

-12

Mar

-13

Jun-

13Se

p-13

Dec

-13

Mar

-14

Average and Median Sale Price

Average Sale Price Median Sale Price

$100,000$120,000$140,000$160,000$180,000$200,000$220,000$240,000$260,000$280,000$300,000

MAR APR MAY JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR

Median Sale Price: Portland, OR & Clark Co., WA

Clark County Metro Portland, OR

This graph shows the

median sale price over

the past 12 months in

the greater Portland,

Oregon, metropolitan

area and Clark

County.

MEDIAN SALE PRICE

PORTLAND, OR

$ 215,000Yamhill County

$ 253,100N Portland

$ 283,000 NEPortland

$ 249,000 SEPortland

$ 214,500GreshamTroutdale

SandyCorbettFairview $ 253,500

Mt. Hood:Zigzag

WelchesRhododendron

WemmeBrightwood

Government Camp

$ 275,000Milwaukie/Gladstone/Boring/ClackamasEstacada

$ 280,000Oregon City

CanbyMolalla

Beavercreek

$ 452,500

Lake OswegoWest Linn

$ 392,800 West Portland

$ 382,500North Washington County

Sauvie Island

$ 242,000Beaverton

Aloha

$ 306,100 Tigard/Tualatin

SherwoodWilsonville

$ 234,900Hillsboro

Forest Grove

$ 199,900Columbia County

$315,000 Heights

$176,000Cent. Vancouver

$217,600Cascade Park

$203,0005 Corners

Orch.

$211,000HazelDell

Minnehaha

$222,300Felida

$258,500Salmon Creek

$299,300Camas/Washougal

$293,500Brush PrairieHockinson

$275,000Ridgeeld/La Center

$252,300Battle Ground

$145,000N/NE Clark County

$251,200Woodland

MEDIAN SALE PRICE March 2014

PORTLANDMETRO

6 Copyright RMLS 2014. All Rights Reserved.

SW WAShINGTON

MULTIPLE LISTING SERVICE

The statistics presented in Market Action are compiled monthly based on figures generated by RMLS.

Market Action Reports are compiled for the following areas: Portland metropolitan area, Southwest Washington, Mid-Columbia, Columbia Basin, Baker County, Coos County, Curry County, Douglas County, Grant County, Lane County, North Coastal Counties, Polk & Marion Counties, Union County, and Wallowa County.

RMLS was formed by area Boards and Associations of REALTORS in 1991.

E-mail subscriptions are available for $45 per year by contacting RMLS, (503) 236-7657. Reproduction of any portion of this copyrighted material is prohibited without prior approval of RMLS.

Brian Houston, Chairman of the BoardKurt von Wasmuth, President/CEOHeather Andrews, Editor

Copyright RMLS 2014. All Rights Reserved.

Lane County: FlorencePO Box 414

Florence, OR 97439(541) 902-2560

Fax: (541) 902-1341

Curry County16289 Hwy 101 S, Suite E

Brookings, OR 97415(541) 469-0219

Fax: (541) 469-9695

Lane County: Eugene2139 Centennial Plaza

Eugene, OR 97401(541) 686-2885

Fax: (541) 484-3854

Southwest Washington1514 Broadway, Suite 101

Vancouver, WA 98663(360) 696-0718

Fax: (360) 696-9342

Douglas County3510 NE EdenbowerRoseburg, OR 97470

(541) 673-3571Fax: (541) 673-6581

Corporate8338 NE Alderwood Rd, Suite 230

Portland, OR 97220(503) 236-7657

Fax: (503) 230-0689

Mid-ColumbiaPO Box 1088

Hood River, OR 97031(541) 436-2956

Fax: (541) 387-6657

Eastern OregonPO Box 751

Hermiston, OR 97838(541) 567-5186

Fax: (541) 289-7320

Coos County1946 Sherman Ave., Suite 101

North Bend, OR 97459(541) 751-1070

Fax: (541) 751-1083

Salem4035 12th Street Cutoff SE, Suite 110

Salem, OR 97302(503) 587-8810

Fax: (503) 585-3817

This graph shows the number of active and closed

condos in the Portland, Oregon, metropolitan area.

ACTIVE & CLOSED CONDOS

PORTLAND, OR

0

100

200

300

400

500

600

700

800

Active & Closed Condos

Active Listings Closed Sales

This graph shows the number of closed sales by quarter

for the Portland, Oregon, metropolitan area.

QUARTERLY CLOSINGS

PORTLAND, OR

0

2000

4000

6000

8000

10000

12000

'03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 14

Quarterly Closings

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter